Section 125.195. Biennial plan; allocations; earmarks; carryover.

Pursuant to the statute, the authority shall biennially develop, propose, and establish a biennial plan related to the program. The biennial plan shall be issued pursuant to the requirements of the statute and all  of the following:

(a)   The authority shall, as a part of the biennial plan, issue an allocation plan related to the disbursement of program funds.

(b)   The authority's biennial plan and allocation plan shall contain an allocation formula related to the disbursement of program funds.

(c)    The following statutory earmark and lookback procedures shall apply to any biennial plan, allocation plan, and allocation formula:

(i)         The following statutory earmarks shall be included in the biennial plan, allocation plan, and allocation formula:

(A)  Not less than 25% of the dollars used for loans or grants made in any program year shall be earmarked for rental housing projects that do not qualify under preferences for special population groups, or other preferences contained in the allocation plan.

(B)  Not less than 30% of the dollars used for loans or grants made in any program year shall be earmarked for projects that target extremely low income households and include housing for the homeless, supportive housing, transitional housing, or permanent housing.

(C)  A portion of the fund shall be expended for housing for persons  with physical or mental handicaps and persons living in eligible distressed areas.

(ii)   After the completion of any application receipt, review, selection, and approval process related to any biennial plan, allocation plan or allocation formula in any program year, the authority shall look back and review the intended distribution of the program funds for that year and determine whether the earmark requirements in this rule and in statute will be met under the proposed distribution. If the earmark requirements are not met, and eligible applications meeting the earmark requirements have been received, accepted, and have not otherwise been approved for funding, the authority shall revise the  proposed  distribution   to  comply  with   the applicable earmark requirements. The revised plan shall be presented to and approved by the authority.

(iii)   Uncommitted funds at the end of any program year shall be carried over and used under the applicable  biennial  plan,  allocation  plan,   and allocation formula related to any subsequent program year.

History: 2008 AACS; 2009 AACS.